Severe recession and restructuring in the financial industry caused by economic crisis in 1997 have made financial condition of enterprises getting worse. Especially construction companies which are more sensitive to financial condition have recorded higher debt ratio than other industries.
Construction companies cut down construction investment and expenditure mainly owing to the so-called "financial constraints". Therefore the vicious cycle arises from investment reduction and results in the long-term depression of the construction industry.
Many efforts such as the introduction of new type of project financing, ABS(Asset Backed Securities) and REITs(Real Estate Investment Trust) have been made to overcome construction financing difficulties. Although many problems have been incurred in the enforcement process of these financing methods, any suitable plan to solve those problems is not proposed yet. (The rest is omitted.)
- 건설산업에서 금융기능 강화 방안 연구(Strengthening the financing in the construction industry)
- 김명수; 권혁진
건설산업에서 금융기능 강화 방안 연구(Strengthening the financing in the construction industry)
|Series Title; No||국토연 / 2002-33|
|Subject Country||South Korea(Asia and Pacific)|
|Subject||Economy < Financial Policy
Industry and Technology < Construction